Glossary

Basic Lifetime Pension - The amount of pension provided to the member before and after age 65.

Bridge Benefit - An additional benefit payable to a member from the date of retirement until the end of the month the member turns age 65.

Enhanced Bridge –An additional benefit available to members who retire before age 65. The enhanced bridge amount is based on the amount of the old age security in effect in the month the pension becomes payable and the ages of the member and his/her spouse. The basic lifetime pension is reduced after age 65 to reflect the higher pension paid prior to age 65.

Joint Life - A joint life pension is an option provided to members at retirement. A joint life benefit provides a pension benefit to a member’s surviving spouse that is 60%, 75% or 100% of the basic lifetime pension benefit that the member was receiving. If the member should die before age 65, 60%, 75% or 100% of the bridge benefit would also be payable to the surviving spouse until the member would have turned age 65. The joint life 60% is the default pension and election of any other option will result in a lower pension benefit.

Pension Before age 65 - The basic lifetime pension and the bridge benefit.

Pension After Age 65 - The amount of the basic lifetime pension. The bridge benefit is no longer payable after age 65.

Pensionable Service - Service for which a member has made contributions to the pension plan.

Reduction Factors - The percentage that a pension is reduced based on age and years of service at retirement when a member does not meet the requirements for a full pension. The percentage of the reduction varies, depending on the member’s age and years of pensionable service at retirement.

Salary - Your salary includes the following:

your regular pay including signing bonuses;

lump sum performance pay;

contract payments;

deferred salary payout;

supplements (in-scope and out-of-scope); and

instructors regular salary

It does not include overtime pay, pay for temporary performance of higher duties (i.e.: T.P.H.D.), any payment in lieu of any benefit or any payment that is not part of your regular salary.

Spouse - Your spouse is:

the person to whom you are legally married; or

if you are not married, the person with whom you are living in a conjugal relationship, and to whom at least one of the following situations applies. He or she:

has been living with you in a conjugal relationship for at least 12 continuous months;

is the parent of your child by birth or adoption; or

has custody and control of your child (or had custody and control immediately before the child turned 19 years of age) and your child is wholly dependent on that person for support.

A spousal relationship with someone to whom you are legally married ceases upon divorce.

A spousal relationship with someone to whom you are not married ceases upon a separation of at least 90 days due to a breakdown in your relationship. The individual immediately resumes being your spouse if you resume living together in a conjugal relationship.

A married spouse takes priority over another person even if that person meets the definition of a spouse. You cannot have more than one spouse at any given time.

Yearly Basic Exemption (YBE) - A value set by the federal government and used in the calculation of the CPP Bridge Benefit.

Yearly Maximum Pensionable Earnings (YMPE) - A value set by the federal government and used in the calculation of the CPP Bridge Benefit.